Partners.

The Citi Foundation, which has sponsored NextBillion Financial Innovation, supports the economic empowerment and financial inclusion of low- to moderate-income people in communities where Citi operates. We work collaboratively with a range of partners to design and test financial inclusion innovations with potential to achieve scale and support leadership and knowledge building activities. Through a “More than Philanthropy” approach, we put the strength of Citi’s business resources and people to work to enhance our philanthropic investments and help improve communities.

We utilize a results-oriented measurement framework that informs the way we assess the impact of the programs we fund. Every grant is carefully tracked to identify ways to ensure success and understand what works and why. This framework helps us define more clearly the results we seek in each of our core focus areas, which include:

Financial Capability and Asset Building – We seek to increase the number of low- to moderate-income adults and/or youth who adopt positive financial behaviors and accumulate and preserve financial assets

Microfinance – We seek to increase the supply and usage of financial products supplied by microfinance institutions that improve and accelerate the financial inclusion of low- to moderate-income individuals

Enterprise Development – We seek to increase the number of micro or small enterprises that provide new income generation and/or employment opportunities for low- to moderate-income individuals

College Success (in the U.S.) – We seek to increase the number of low- to moderate-income secondary school students who are meeting the academic, financial and social milestones to enroll in and complete postsecondary education

Youth Education and Livelihoods (outside the U.S.) – We seek to increase the number of low-income youth, ages 13-25, who demonstrate the skills needed to complete secondary school, become employed in a living wage job, start their own income-generating business or obtain postsecondary education or training

Neighborhood Revitalization (in the U.S.) – We seek to increase the number of small businesses, affordable housing units or community facilities that contribute to the economic and/or environmental sustainability of low- to moderate-income communities

Posts by Citi Foundation

Val Smith of Citi gives global context to what sound like the impossibly high costs of reaching the Sustainable Development Goals on clean energy and global warming, saying there is good news behind the daunting gap. The challenge is that current investment levels in development and climate-positive activity remain far below what is required – but current trends in innovative finance are heartening.

What is an ethical business? During last month’s Latin America Impact Investing Forum (FLII) Avina’s Bernardo Toro, said it clearly: “It is a business that doesn’t prey on people; one that creates real value; one that pays attention to what’s important, not what’s showy.” Simple and to the point, so why do we struggle with it?

The Citi Foundation, Tufts University and Business Fights Poverty have launched a new partnership, along with a new report: Growth for Good or Good for Growth? The study explores how sustainable and inclusive business activities are changing business.

Jonathan Morduch is professor of Public Policy and Economics at NYU, and Executive Director of the Financial Access Initiative. In this interview with Upsides, he discusses the real reasons the poor struggle with their finances, how financial services providers can serve them better, and why his views on microfinance have changed.

Addressing the world’s social and environmental challenges will require trillions of dollars in investment, and mobilizing those funds will be a challenge. A new report released today by Dalberg Global Development Advisors and the Global Development Incubator describes how innovative financing can play an important role in promoting development outcomes.

Can a secured credit card help entrepreneurs build credit and positive financial behaviors? FIELD at the Aspen Institute wrestled with this question as part of an 18-month initiative called the Asset Building through Credit pilot, funded by the Citi Foundation. FIELD director Joyce Klein, with Luz Gomez, discuss the research and its implications.

The U.S. Financial Diaries project collected highly detailed data on the financial activities of 250 lower-income households over the course of a year. A joint initiative of NYU’s Financial Access Initiative (FAI), CFSI and Bankable Frontier Associates, the project has begun publishing preliminary findings. We spoke with Tim Ogden, managing director of FAI, about the research.

The Financial Inclusion 2020 Global Forum brought together hundreds of leaders to dedicate themselves to quality financial access for all by 2020. Since October, the Center for Financial Inclusion has been following up on the insights generated at the summit, and laying the groundwork for the next big push. Elisabeth Rhyne discusses the movement’s progress and next steps.